Latest news with #R37.5
The South African
31-05-2025
- Entertainment
- The South African
Taylor Swift reclaims her music masters in landmark deal
Taylor Swift, after years of public battles, heartbreak, and determination, now finally owns her first six albums. This move is a masterclass in standing up for your rights, regardless of how powerful your opponents are. 'All of the music I've ever made now belongs to me,' Taylor announced. 'I've been bursting into tears of joy… ever since I found out this is happening.' The saga began in 2019. Scooter Braun, a music mogul, bought Taylor's former record label, Big Machine, according to the BBC . With it, he got the rights to her first six albums. Imagine working for years, only to see someone else reap the rewards of your creations. Taylor called out Braun for 'incessant, manipulative bullying.' She felt betrayed. 'After 20 years of people dangling the carrot in front of me and then yanking it away, I almost gave up hope that it could ever happen,' she wrote. But she never gave up. In music, whoever owns the master recording controls how the songs are used. Want your hit in a movie, advert, or video game? The master owner decides. Taylor always kept her publishing rights, but without the masters, she couldn't call the shots. 'I do want my music to live on… but I only want that if I own it,' she told Billboard. The price for freedom wasn't small. When Big Machine first sold, the catalogue fetched $300 million (about R5.6 billion). Rumours swirled that Taylor paid up to $1 billion (over R18.7 billion), but insiders say that's too high. Still, it's a staggering sum—proof that music is big business. Taylor Swift didn't just sit back. She fought back. She started re-recording her old albums, releasing 'Taylor's Versions' packed with bonus tracks. Fans loved them. 'The success of the Eras tour is why I was able to buy back my music,' she said. That tour raked in over $2 billion (about R37.5 billion) in ticket sales. This victory is a beacon for artists everywhere, including in South Africa. 'Every time a new artist tells me they negotiated to own their master recordings. I'm reminded of how important it was for all of this to happen,' Taylor said. Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1. Subscribe to The South African website's newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
eNCA
21-05-2025
- Business
- eNCA
Budget 3.0 brings VAT relief, sin tax burns, and an unexpected fuel levy hike
CAPE TOWN - Finance Minister Enoch Godongwana put on a brave face as he presented his third budget proposal for the 2025/26 financial year. His first budget speech was delayed due to unhappiness among GNU partners over the proposed VAT hike. The second resulted in court action. On Wednesday, Godongwana set the tone by clarifying that VAT would remain at 15%. This left the minister with a big shortfall to make up for. He chose to fill it with fuel levy. Next month, petrol goes up by 16 cents a litre and diesel by 15 cents. This is the first fuel levy increase in three years. Godongwana said this alone would not close the fiscal gap over the medium term. The 2026 budget will therefore need to propose new tax measures aimed at raising R20 billion. Alcohol drinkers and smokers must also brace themselves for a hefty sin tax hike. Cigarettes will go up by more than a rand for a pack of 20, while cigars increase by around R8.50 per 23 grams. Spirits rise by almost R6 for a 750ml bottle. The food basket also takes a knock. Godongwana said the zero-rated basket – which was expanded to include edible offal, specific meat cuts and canned vegetables – would also shrink. Godongwana also committed to more transparent public spending. He said government must ensure that every rand collected is spent on its intended purpose. 'We found potential savings of R37.5 billion over time, through improved oversight and operational changes…' he explained. 'Going forward, underperforming programmes will be closed as the 2026 Medium-Term Expenditure Framework budget process undergoes redesign," Godongwana said. The minister also said authorities were making progress in the war against corruption. In the past five years, the Asset Forfeiture Unit (AFU) recovered over R5 billion in criminal assets. The AFU also obtained freezing orders for R14.2 billion worth of assets related to state capture cases. Godongwana did admit that there were long-standing spending pressures, some of which cannot be funded within the current purse. Among them are the Passenger Rail Agency of South Africa stock fleet renewal programme, as well as HIV/Aids programmes that were previously funded by the US government.
